Module 03: Critical Thinking Critical Thinking: Theory of Comparative Advantage (100 Points)Read the...

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Module 03: Critical Thinking Critical Thinking: Theory of Comparative Advantage (100 Points) Read the required journal articles by Schumacher XXXXXXXXXXand Palley XXXXXXXXXXregarding the theory of...

Module 03: Critical Thinking

Critical Thinking: Theory of Comparative Advantage (100 Points)

Read the required journal articles by Schumacher (2012) and Palley (2008) regarding the theory of comparative advantage. In a critical essay, compare and contrast Smith's original theory as indicated in the Schumacher (2012) article. What, in contrast, is Palley's (2008) observation regarding the modern view of comparative advantage? Differentiate these views and support your findings with additional academic references.

Directions:

Your essay should be 3-5 pages in length, which does not include the title page, abstract, or required reference page, which are never a part of the content minimum requirements.

Support your submission with course material concepts, principles, and theories from the textbook and
at least three scholarly, peer-reviewed journal articles.Use the Saudi Digital Library to find your resources.

Use Saudi Electronic University academic writing standards and APA style guidelines.

It is strongly encouraged that you submit all assignments into the Turnitin Originality Check prior to submitting it to your instructor for grading. If you are unsure how to submit an assignment into the Originality Check tool, review the Turnitin Originality Check – Student Guide for step-by-step instructions.

Review the grading rubric to see how you will be graded for this assignment.

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Module 03: Critical Thinking Critical Thinking: Theory of Comparative Advantage (100 Points) Read the required journal articles by Schumacher (2012) and Palley (2008) regarding the theory of comparative advantage. In a critical essay, compare and contrast Smith's original theory as indicated in the Schumacher (2012) article. What, in contrast, is Palley's (2008) observation regarding the modern view of comparative advantage? Differentiate these views and support your findings with additional academic references. Directions: Your essay should be 3-5 pages in length, which does not include the title page, abstract, or required reference page, which are never a part of the content minimum requirements. Support your submission with course material concepts, principles, and theories from the textbook and at least three scholarly, peer-reviewed journal articles. Use the Saudi Digital Library to find your resources. Use Saudi Electronic University academic writing standards and APA style guidelines. It is strongly encouraged that you submit all assignments into the Turnitin Originality Check prior to submitting it to your instructor for grading. If you are unsure how to submit an assignment into the Originality Check tool, review the Turnitin Originality Check – Student Guide for step-by-step instructions. Review the grading rubric to see how you will be graded for this assignment.

005_oa5o-341hfag5.docx

Answered Same DayDec 27, 2021

Robert · Accepted Answer

Economics  
Student Code 
Instructor Code 
Name
Management  
2 
 
1.0 Introduction 
The theory of comparative advantage plays an important role in the international trade. The 
researchers and economist have different views about comparative advantage. As per the report 
of Business Insider (2016) theory of comparative advantage called as the ability of the 
organization or economy to produce or manufacture the goods and services less opportunity cost. 
In this paper analyzing the different aspects related to the theory of comparative advantage. We 
are also analyzing the different views of Schumacher (2012) and Palley (2008) regarding the 
theory of comparative advantage in a detailed way. 
2.0 Body 
Both Schumacher (2012) and Palley (2008) have the different view about a theory of 
comparative advantage. Every organization has to consider the benefits of the theory of 
comparative advantage in order for managing the competition in a productive way. 
2.1 Views of Schumacher (2012) regarding the theory of comparative advantage 
According to the words of Schumacher (2012) free international trade helps the organization for 
enjoying the benefit of comparative advantage and it also helps the organization for reducing the 
cost related to the production. He also added that comparative advantage differs from one nation 
to another or one company or another based on the tools used. According to the words of 
Schumacher (2012), we have to consider five important factors in order for considering the 
theory of comparative advantage in an effective way.  
1.    Capital and labor immobile  
2.

Module 03: Critical Thinking Critical Thinking: Theory of Comparative Advantage (100 Points) Read the required journal articles by Schumacher XXXXXXXXXXand Palley XXXXXXXXXXregarding the theory of...

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